SCHZ vs. BOND
SCHZ (Schwab U.S. Aggregate Bond ETF) and BOND (PIMCO Active Bond ETF) are both exchange-traded funds - SCHZ is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index, while BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO. SCHZ is passively managed, while BOND is actively managed. Over the past 10 years, SCHZ returned 1.48%/yr vs 2.15%/yr for BOND. Their correlation of 0.83 suggests significant overlap in exposure. SCHZ charges 0.03%/yr vs 0.54%/yr for BOND.
Performance
SCHZ vs. BOND - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCHZ achieves a 0.38% return, which is significantly lower than BOND's 0.65% return. Over the past 10 years, SCHZ has underperformed BOND with an annualized return of 1.48%, while BOND has yielded a comparatively higher 2.15% annualized return.
SCHZ
- 1D
- -0.26%
- 1M
- 0.61%
- YTD
- 0.38%
- 6M
- 0.47%
- 1Y
- 4.52%
- 3Y*
- 3.90%
- 5Y*
- 0.02%
- 10Y*
- 1.48%
BOND
- 1D
- -0.33%
- 1M
- 0.77%
- YTD
- 0.65%
- 6M
- 0.84%
- 1Y
- 5.88%
- 3Y*
- 5.07%
- 5Y*
- 0.46%
- 10Y*
- 2.15%
SCHZ vs. BOND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHZ Schwab U.S. Aggregate Bond ETF | 0.38% | 7.24% | 1.26% | 5.60% | -13.17% | -1.72% | 7.46% | 8.65% | -0.26% | 3.50% |
BOND PIMCO Active Bond ETF | 0.65% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
Correlation
The correlation between SCHZ and BOND is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012 | 0.83 |
The correlation between SCHZ and BOND shifts across timeframes, from 0.83 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SCHZ vs. BOND — Risk / Return Rank
SCHZ
BOND
SCHZ vs. BOND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Aggregate Bond ETF (SCHZ) and PIMCO Active Bond ETF (BOND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SCHZ | BOND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.96 | -0.28 |
| Martin ratioReturn relative to average drawdown | 4.86 | 5.93 | -1.08 |
Loading charts...
Drawdowns
SCHZ vs. BOND - Drawdown Comparison
The maximum SCHZ drawdown since its inception was -18.74%, roughly equal to the maximum BOND drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for SCHZ and BOND.
Loading charts...
Drawdown Indicators
| SCHZ | BOND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.74% | -19.71% | +0.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -3.01% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -6.18% | -6.12% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -18.01% | -19.71% | +1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | -19.71% | +0.97% |
Current DrawdownCurrent decline from peak | -2.38% | -1.40% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -3.50% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.99% | -0.06% |
Volatility
SCHZ vs. BOND - Volatility Comparison
The current volatility for Schwab U.S. Aggregate Bond ETF (SCHZ) is 1.15%, while PIMCO Active Bond ETF (BOND) has a volatility of 1.35%. This indicates that SCHZ experiences smaller price fluctuations and is considered to be less risky than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCHZ | BOND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.35% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 3.05% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.76% | 3.99% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 5.78% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 5.10% | +0.32% |
SCHZ vs. BOND - Expense Ratio Comparison
SCHZ has a 0.03% expense ratio, which is lower than BOND's 0.54% expense ratio.
Dividends
SCHZ vs. BOND - Dividend Comparison
SCHZ's dividend yield for the trailing twelve months is around 4.12%, less than BOND's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 5.18% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
SCHZ Schwab U.S. Aggregate Bond ETF | 4.12% | 4.05% | 3.96% | 3.28% | 2.63% | 2.16% | 2.43% | 2.79% | 2.56% | 2.40% | 2.24% | 2.11% |
Frequently Asked Questions
With a correlation of 0.97, SCHZ and BOND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BOND has higher volatility (1.35%) compared to SCHZ (1.15%). In terms of maximum drawdown, SCHZ dropped -18.74% vs BOND's -19.71%.
On 10-year performance, BOND leads with 2.15% vs 1.48% for SCHZ. On fees, SCHZ is cheaper at 0.03% per year. On volatility, SCHZ has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BOND has performed better with a 2.15% return vs 1.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHZ is cheaper with a 0.03% expense ratio, compared with 0.54% for BOND.
BOND has the higher dividend yield at 5.18%, compared with 4.12% for SCHZ.
SCHZ is categorized as Total Bond Market, while BOND is Intermediate Core-Plus Bond. They also come from different issuers: Charles Schwab and PIMCO. Their fees differ too: 0.03% for SCHZ and 0.54% for BOND.
BOND currently has the higher Sharpe Ratio (1.49 vs 1.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for SCHZ and BOND
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer